German automaker Volkswagen has revealed that it has sold all the electric vehicles that it plans to sell this year in Europe and the United States. This means that anyone who wants to order an electric vehicle made by a VW brand will have to be patient until next year before their order can be delivered.
Herbert Diess, the Group CEO of VW, revealed that in total, the company’s brands of Porsche, Audi, Skoda and Volkswagen had a combined backlog of 300,000 orders that were yet to be fulfilled in Western Europe. Add to this the orders from the rest of the world, and it becomes clear that the company has plenty of work to do to supply all the vehicles needed by clients from major markets around the world.
Diess added that the company’s order book is huge, and new orders are pouring in thick and fast. This was the reason why the company decided to announce that it had sold out of full -electric vehicles in the American and European markets. The company’s orders in China are also piling up fast, and it is just a matter of time before the order limit for this year is also reached in that market.
It should be noted that VW delivered a total of 99,000 electric vehicles globally in the first three months of this year. In comparison, Tesla tripled that number as its deliveries stood at 310,048 electric vehicles delivered to clients around the world.
It isn’t surprising that Volkswagen is saying it has sold out of electric vehicles in two of the top three EV markets in the world. Data from the European Automobile Manufacturers’ Association indicates that battery EVs almost doubled their share of the market within the European region during the first quarter of this year. Fully electric vehicles claimed a 10% share of all the vehicles sold in Europe in the first three months of this year, while hybrid electric vehicles took 8.9% of the sales registered.
While vehicles powered by fossil fuel registered a decline in their market share, they still took a huge chunk of the sales made in January to March, claiming a 52.8% share of all the vehicles sold in that first quarter.
It is important for electric vehicle makers such as NIO Inc. (NYSE: NIO) to ramp up their production so that motorists who are eager to buy an EV aren’t frustrated by the lengthy wait times before their purchase can be delivered. Otherwise, enthusiasm could wane and push back the timelines within which electrification should have happened on our roads.
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